Lemonade Sees Unusually Large Options Volume (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND - Get Free Report) was the target of unusually large options trading on Monday. Stock traders bought 17,881 call options on the stock. This represents an increase of approximately 53% compared to the typical volume of 11,689 call options.

Insider Transactions at Lemonade

In other news, major shareholder Softbank Group Capital Ltd sold 422,177 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $30.17, for a total transaction of $12,737,080.09. Following the completion of the transaction, the insider now directly owns 10,015,984 shares of the company's stock, valued at approximately $302,182,237.28. This represents a 4.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Sheldon Peters sold 1,494 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $35.25, for a total value of $52,663.50. Following the completion of the transaction, the insider now owns 106,115 shares of the company's stock, valued at $3,740,553.75. The trade was a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,540,162 shares of company stock worth $79,825,724 over the last 90 days. 12.50% of the stock is currently owned by insiders.

Institutional Trading of Lemonade

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMND. JPMorgan Chase & Co. grew its holdings in shares of Lemonade by 2,627.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock worth $49,494,000 after buying an additional 1,299,891 shares in the last quarter. Vanguard Group Inc. grew its stake in Lemonade by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company's stock worth $192,931,000 after acquiring an additional 794,952 shares during the period. Two Sigma Investments LP purchased a new stake in Lemonade in the 4th quarter worth approximately $22,066,000. Voloridge Investment Management LLC purchased a new stake in Lemonade in the 4th quarter worth approximately $21,310,000. Finally, Two Sigma Advisers LP purchased a new stake in Lemonade in the 4th quarter worth approximately $15,412,000. Hedge funds and other institutional investors own 80.30% of the company's stock.

Lemonade Stock Down 2.0%

Shares of LMND traded down $0.93 during mid-day trading on Tuesday, reaching $44.86. 2,705,674 shares of the company's stock were exchanged, compared to its average volume of 2,066,558. The company has a 50-day simple moving average of $33.31 and a two-hundred day simple moving average of $34.31. Lemonade has a 52-week low of $14.90 and a 52-week high of $53.85. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -14.76 and a beta of 2.14.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.02). Lemonade had a negative return on equity of 36.72% and a negative net margin of 38.90%. Lemonade's revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.67) EPS. As a group, equities research analysts predict that Lemonade will post -3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley cut shares of Lemonade from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $35.00 to $24.00 in a report on Tuesday, April 8th. Piper Sandler dropped their price objective on Lemonade from $44.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on Lemonade from $25.00 to $22.00 and set an "underperform" rating for the company in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $28.17.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.